Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on indexes, ETF
Chicago, June 8 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Nov. 30, 2026 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 10% if each underlier closes at or above its coupon barrier level, 60% of its initial level, on a related observation date.
The notes will be called automatically at par plus the coupon if each underlier closes at or above its initial level on any monthly observation date after one year.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 60% knock-in level, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, KraneShares CSI China Internet ETF
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| Amount: | $1,000,000
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| Maturity: | Nov. 30, 2026
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| Coupon: | 10% per year, payable monthly if each underlier closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below its knock-in level, in which case lose 1% for every 1% decline of worst performer from its initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above its initial level on any monthly observation date after one year
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| Initial levels: | 2331.348 for Russell, 16380.98 for Nasdaq, $47.08 for ETF
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| Coupon barrier/knock-in levels: | 1398.8088 for Russell, 9828.588 for Nasdaq, $28.248 for ETF; 60% of initial levels
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| Pricing date: | Nov. 24, 2021
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| Settlement date: | Nov. 30, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553P5Z8
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